PUK Management Services Ltd - Period Ending 2023-02-28
PUK Management Services Ltd - Period Ending 2023-02-28
Year Ended
Registration number:
PUK Management Services Ltd
Balance Sheet
28 February 2023
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Note |
2023 |
2022 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 11925510
PUK Management Services Ltd
Notes to the Financial Statements
Year Ended 28 February 2023
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Audit report
PUK Management Services Ltd was eligible for an audit exemption and did not opt to have an audit for the year ended 28 February 2022 and consequently the comparative information, which is derived from those financial statements is unaudited.
Going concern
The directors have considered a period of 12 months from approval of these accounts, including appropriate forecasts and are satisfied that the going concern basis contines to be appropriate. The company will continue with the financial support of the connected companies.
PUK Management Services Ltd
Notes to the Financial Statements
Year Ended 28 February 2023
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
PUK Management Services Ltd
Notes to the Financial Statements
Year Ended 28 February 2023
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
PUK Management Services Ltd
Notes to the Financial Statements
Year Ended 28 February 2023
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Debtors |
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2023 |
2022 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2023 |
2022 |
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Due within one year |
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Trade creditors |
- |
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Corporation tax |
55,235 |
68,261 |
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Taxation and social security |
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Other creditors |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2023 |
2022 |
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No. |
£ |
No. |
£ |
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400 |
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400 |
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600 |
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600 |
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Dividends |
Interim dividends paid
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2023 |
2022 |
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Interim dividend of £ |
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PUK Management Services Ltd
Notes to the Financial Statements
Year Ended 28 February 2023
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Related party transactions |
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Transactions with directors |
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2023 |
At 1 March 2022 |
Advances to director |
Repayments by director |
At 28 February 2023 |
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J H Chanter |
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Director's loan account - 0% interest |
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( |
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S Rana |
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Director's loan account |
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( |
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2022 |
At 1 March 2021 |
Advances to director |
Repayments by director |
At 28 February 2022 |
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J H Chanter |
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Director's loan account - 0% interest |
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( |
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S Rana |
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Director's loan account |
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Summary of transactions with parent
Psychiatry-UK LLP was the majority shareholder of PUK Management Services Ltd until 28 February 2023. At the year end PUK Management Services Ltd owed Psychiatry-UK LLP £230,012 (2022 - £223,559) on their intercompany loan. No interest is being charged on this loan.
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Audit report |
PUK Management Services Ltd was eligible for an audit exemption and did not opt to have an audit for the year ended 28 February 2022 and consequently the comparative information, which is derived from those financial statements is unaudited.
PUK Management Services Ltd
Notes to the Financial Statements
Year Ended 28 February 2023
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The parent of the smallest group in which these financial statements are consolidated is
The address of Psych-UK Limited is:
Camelford
Cornwall
PL32 9PG